So in 1990 he founded one of the earliest digital currencies, DigiCash, which offered users anonymity through cryptographic protocols of his own devising.
Many schemes have been tried,including e-gold and e-Bullion(both with gold-backed reserves), or DigiCash, which aimed to be a centralized digital currency.
It's based on blind signatures,a cryptographic technique invented by David Chaum, whose DigiCash was among the first attempts at creating secure electronic money.
After studying mathematics in Eindhoven, he worked for DigiCash analyzing, designing, and implementing advanced electronic payment systems that protect the privacy of the user.
DigiCash did have a very impressive board with, for example, David Chaum- who had disappeared into the background- and the influential Nicholas Negroponte.
By 1995 there were at least seven competing payment schemes, from firms such as CyberCash, Wave Systems,First Virtual, DigiCash and Digital Equipment, along with several universities.
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